Ernst Pays $84 Million to Settle
Suit Filed in 1993 by Bank Trustee

Ernst & Young LLP agreed to pay $84 million to settle a lawsuit in Boston over its audit work more than a decade ago for the defunct Bank of New England Corp.

The settlement in the long-forgotten case, one of the largest Ernst has made, is a reminder of the litigation pressures on the Big Four accounting firms as they seek to restore public trust in their audit work.